PITTSBURGH, Nov. 14 /PRNewswire-FirstCall/ -- Mylan Inc. (NYSE: MYL)
announced that it has priced its concurrent public offerings of 1.86
million shares of 6.50% mandatory convertible preferred stock ("preferred
stock") at $1,000 per share and 53.5 million shares of common stock at $14
per share pursuant to a shelf registration statement previously filed with
the Securities and Exchange Commission. The underwriters have options to
purchase approximately 279,000 additional shares of preferred stock and
approximately 8.025 million shares of common stock, in each case to cover
over-allotments, if any. These offerings are separate public offerings by
means of separate prospectus supplements and the closing of each offering
is not contingent on the other.

The preferred stock will pay, when declared by the Board of Directors,
dividends at a rate of 6.50% percent per annum on the liquidation
preference of $1,000 per share, payable quarterly in arrears in cash,
shares of Mylan common stock or a combination thereof at Mylan's election.
The first dividend date will be February 15, 2008.

Each share of preferred stock will automatically convert on November
15, 2010, into between approximately 58.5480 shares and 71.4286 shares of
MYL common stock. The conversion rate will be subject to anti-dilution
adjustments in certain circumstances. Holders may elect to convert at any
time at the minimum conversion rate of 58.5480 shares of common stock for
each share of preferred stock. The preferred stock has been approved for
listing on the New York Stock Exchange, subject to issuance. The ticker
symbol for this security will be MYLPrA.

The offerings will generate net proceeds of approximately $2.5 billion
after underwriters discounts and expenses, without giving effect to the
exercise of the over-allotment options. The closing date for the
transactions is expected to be November 19, 2007. Mylan intends to use the
net proceeds of the offerings to prepay a portion of the bridge loans that
were borrowed to finance in part its acquisition of Merck KGaA's generics
business.

The joint book-running managers for the preferred stock and common
stock offerings are Merrill Lynch & Co. and Goldman, Sachs & Co. Merrill
Lynch & Co. is acting as sole global coordinator for all financings for
Mylan. Co-managers for the common stock offering are Citi, JPMorgan and
Cowen and Company. Co-managers for the preferred stock offering are Citi,
JPMorgan, Cowen and Company, Banc of America Securities LLC and Mitsubishi
UFJ Securities.

This press release does not and shall not constitute an offer to sell
or a solicitation of an offer to buy any of the securities, nor shall there
be any sale of these securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any jurisdiction.

This press release contains statements that constitute "forward-looking
statements", including with regard to the Company's planned securities
offerings. These statements are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Because such
statements inherently involve risks and uncertainties, actual future
results may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause or contribute to such
differences include, but are not limited to: the prevailing conditions in
the public capital markets; significant fluctuations in interest rates or
inflation; economic recession; economic, political and market factors
affecting trading volumes, securities prices or demand for the Company's
stock; and the other risks detailed in the Company's prospectus supplements
and in periodic filings filed by the Company with the Securities and
Exchange Commission. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release.

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